Corporate Sector
RIL Arm to invest Rs 1,300 cr in Haryana for Electronics Hub
Model Economic Township -- wholly owned by Reliance Industries -- will develop an electronics manufacturing hub and footwear park at Jhajjar, Haryana with an investment of Rs 1,300 crore. Model Economic Township, formerly known as Reliance Haryana SEZ, also expects that the electronic hub and footwear park would attract a further investments of Rs 2,600 crore from units to be established inside it while generating about 20,000 employment opportunities. The firm has signed two MOUs (memorandum of understanding) with the Haryana government at the Happening Haryana global investor's summit to develop 450-acre electronic manufacturing clusters and 500-acres footwear park. The proposed electronic hub and footwear park is part of 8,000 acre industrial town being developed by the company. "We are developing a large industrial town in Jhajjar district spread over 8,000 acres. We have already developed 290 acres. Now the company has decided to set up an electronic hub and footwear park. "Model Economic Township Ltd Director SV Goyal said. Elaborating on the company's agreement with Haryana government, Goyal said: "We have signed two MoUs for the development of 450 acres for electronic manufacturing cluster and another 500 acres for footwear park."
As per the MOUs, he said the Haryana government will facilitate all approvals on fast track basis and also provide eligible incentives to the units to be established in both electronic hub and footwear park. Asked about the investment, Goyal said: "The project cost for electronic manufacturing cluster would be Rs 500 crore and for footwear park Rs 800 crore. Total project cost for both would be Rs 1,300 crore". That apart, the electronic hub is estimated to attract an investment of Rs 1,000 crore from units in electronic hub and another Rs 1600 crore from units in footwear park. "We want to support government's Make in India initiative by providing world class infrastructure to units which want to manufacture in India," he said. Already, Japanese major Panasonic and Denso have set up their facilities and generated employment opportunities of about 3,000 persons in the 290 acres which has already been operationalised.
Mahindra & Mahindra Forays into Dairy Business
The agri business vertical of Mahindra & Mahindra has now forayed into dairy market with the launch of Saboro milk. It will be made available in four variants: double toned milk, full cream milk, protein rich milk, and cream rich milk. The brand is available only in Indore, but the company expects to launch a range of fresh dairy products in Madhya Pradesh over the next one year. The company said that Saboro is derived from the Spanish word Sabor which means taste. It reflects its commitment towards delivering high quality fresh fruits and dairy products to the Indian consumer. Dr Pawan Goenka, executive director, Mahindra & Mahindra Ltd, noted,"Our agri business cherishes the long-term aspiration of delivering 'FarmTech Prosperity.' Today, with Saboro, we are taking another important step in our journey to become a complete value chain player. Our stringent systems and processes have resulted in products that stand out in the market in terms of its quality especially with our Mahindra Quality Standards (MQS). With our launch today, we are confident that Saboro will establish itself as a premium brand for milk in India in the near future." Adding further, Ashok Sharma, president & chief executive, agri and Africa and South Asia operations, Mahindra & Mahindra Ltd, stated, "We have entered the branded dairy segment with an aim to connect the farmers with the discerning Indian customers who look for dairy products that are fresh and of the highest quality. The milk variants are specially fortified with Vitamin A and D. We are confident that, with Mahindra's inherent farmer connect and robust quality systems, Saboro will soon become a brand of choice for dairy products." The company has put in place a technologically advanced milk collection supply chain in around 70 villages near Indore where it works directly with farmers with an aim of ensuring that they get the best value for their milk and the consumers get milk that is of the highest quality.